Tuesday, February 15, 2011

SEBI EXTENDS ARBITRATION CLAIM TIME FRAME

According to the Securities and Exchange Board of India (SEBI), arbitration claims could be filed
beyond six months. With the limitation period for arbitration being modified to three years as
prescribed under the Limitation Act of 1963, as per the capital market regulator said the modified
limitation period would be applicable in cases where three years had not elapsed and no
arbitration had been filed. It also added that it would also be applicable on cases where arbitration
was filed but rejected solely on ground of delay in filing earlier six month limitation period.

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